The news feeds on this site are independently provided by Adfero Limited © and do not represent the views or opinions of the World Gold Council.

Wednesday, 10th March 2010 (507 views)

Gold exploration company Stratex International has announced that it managed to fast-track four of its major gold prospects in Turkey throughout 2009.

In addition to this, the company reported that it has successfully expanded its portfolio of gold assets in Ethiopia, with the total of one million ounces of the precious metal located in the projects within the two countries.

A joint venture was formed in Turkey with NTF Insaat Ticaret, which had helped to fast-track two of the company's gold projects - Altintepe and Inlice - into production.

Similarly, the Oksut prospect was optioned by Centerra Gold in August 2009 in order to make the production of gold at the site a more feasible possibility.

The company has now stated that it hopes to expand elsewhere. David Hall, chief executive of Stratex, said: "Whilst Turkey remains a key focus, we are confident that our skills can be transferred to expand our geographic reach and add value to shareholders."

Stratex recently announced that it believes Ethiopia has "considerable potential" for the discovery of gold.

 

« Back to Gold News stories